Apple Music reaches 38 Million Paid Subscribers

According to Reuters, Apple, Inc. (NASDAQ: AAPL) streaming music service has over 38 million paid subscribers, a 2 million increase from February.  Apple has been competing with Amazon.com, Inc. (NASDAQ: AMZN), Spotify, and other streaming music services such as Alphabet’s, (NASDAQ: GOOGL) google play music.  Spotify has over 71 million premium subscribers as of December 31st, 2017.  Spotify plans to IPO at the New York Stock Exchange under the ticker symbol SPOT.

Amazon Music Unlimited has over 16 million paid subscribers, Pandora Media has 5.48 million subscribers but Google has not disclosed the paid subscriber amount for its Google Play Music service.

David Pak, previous CEO of eMusic, commented on CNN about the war between Spotify and Apple Music.  “Spotify… had a great headstart and built a great product,” Pakaman said.  “For Spotify, we started off being a utility to play music and we’re now becoming an experience for every moment of your life,” CEO of Spotify Daniel Ek said.  “One of the most precious commodities we have is our time.  So if we make it convenient for people to do things, I think there’s a huge market in that for everything,” Ek said in an interview with CBS.

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